Looking for a new accountant but not sure you want the hassle of changing your provider?
Don’t worry, it’s really easy to switch Accountants. Once you’ve signed the paperwork, a professional transfer will take place and we will handle everything for you. There’s no loss of records or any risk of falling behind with your tax. The hardest part can be letting your existing provider know, but don’t let that stop you from getting the accounting support that you need for your business. We provide accounting and business support to small businesses who are looking to take their business to the next level of growth.
Why choose Beans Accounting?
Whether this is your first step to working with an Accountant or you’re looking to switch provider, here’s what makes us unique in the way we provide accounting services for small businesses:
- Our team will get under the skin of your business and help you to nurture it and make it grow
- We hold quarterly reviews with you and identify early warning indicators for things that need to be addressed throughout the year
- The tools we give you like FreeAgent will help you save time and stay organised
- We can provide in-year support through cloud solutions to keep your business on track
Small Businesses
Whether this is your first step to working with an Accountant or you’re looking to switch provider, here’s what makes us unique in the way we provide accounting services for small businesses:
- Our team will get under the skin of your business and help you to nurture it and make it grow
- We hold quarterly reviews with you and identify early warning indicators for things that need to be addressed throughout the year
- The tools we give you like FreeAgent will help you save time and stay organised
- We can provide in-year support through cloud solutions to keep your business on track
Contact Beans
Call us for a chat and let’s talk about how we can give you the best tax advice for your small business.
- All our staff have experience of working in industry, not just in a practice
- This real-life experience means we understand the challenges of running a small business
- We will agree our prices in advance so there are no hidden surprises
- Monthly payment to spread the cost
- FreeAgent software is included in package
- Set-up, training and support provided
- Always available to answer questions
- Gets to know your business
- Covers all HMRC investigation fees
- Support and guidance to ensure best outcome
FAQs for Small Businesses
- The process of taking profits out of the company needs to be managed carefully. You have to get the right balance of dividends and pay. If you take out too much money in dividends you could be hit with a whopping 32.5% tax.
- Let us first dispel the myth that VAT is a bad thing. If you include VAT on your invoices, clients are unlikely to mind. They will claim the VAT back as a routine part of their financial process. It’s a very simple and expected procedure in business. Actually, there may be benefits to you being VAT registered – to claim back the VAT on new equipment for instance. This is just another example of why managing Tax for a business is not always straightforward and really should be reviewed with an Accountant.
Sole Trader
Running your business as a Sole Trader is an easy way to set up your business and involves minimal administration. With just one tax return a year, it has low formality and is a straight-forward option with many of the same capabilities of a Limited Company.
Limited Company
As a Limited Company you have more opportunities to save on tax. It offers reduced liability and can make you look more professional. In the realm of B2B trading, some businesses will only deal with Limited Companies. If you are a Sole Trader looking to become a Limited Company, this can be done at any time without any sort of penalty.
As every business is unique, there is no hard and fast rule about which option will be right for you. The best thing to do is speak to an Accountant and discuss the options.
It’s never too late to get your accounts up-to-date. If you’re really in a pickle, we have an A&E team who will help you get things ship-shape right away. Once the urgency is dealt with, we will help you establish good practices going forward.
What our clients say…
Our basic packages at a glance:
We will advise you on the best legal form
Sole Trader
Small businesses and traders with expected profits less than £30,000.
- Personal tax return (Self Assessment)
- One-Tap
- Tax investigation insurance
- Tax and accounting advice from your accountant
Additional services available
- Set up on cloud accounting software
- Bookkeeping
Pricing
- Fixed price based on size of business, so there are no surprise bills
- Reduced fees for clients using One-Tap or cloud based software
Limited Company
Business with expected profits greater than £30,000. High growth businesses. Businesses owned by individuals already paying higher tax payers. High risk businesses where limited liability is important
- Company accounts
- Corporation tax return
- Companies House Filings
- Accounting software (FreeAgent or Xero)
- Personal tax returns for shareholders and directors
- Payroll for directors and employees
- Tax planning to ensure tax efficient extraction of profits
- Process design workshop
- Tax investigation insurance
Additional services available
- Set up on cloud accounting software
- Bookkeeping
- Business planning and forecasting
Pricing
- Fixed price based on size of business, so there are no surprise bills